Without requiring any engineering resources, organizations can use Pendo to extend their product to capture all user behavior, gather feedback, and provide contextual help inside their applications.
SPARK CAPITAL SOFTWARE
Pendo provides software product managers and teams with a powerful integrated platform to better understand and improve the product experience. To differentiate, enterprise software products must deliver an exceptional product experience from onboarding to adoption, retention and growth. The shift to SaaS and recurring revenue has empowered a new set of business users who demand that their software at work behave like their software at home – fast, friendly and intuitive. As part of the financing, Spark Capital General Partner Megan Quinn will join Pendo’s board of directors.
SPARK CAPITAL SERIES
12, 2016 – Pendo, a data-driven platform that helps companies deliver great software product experiences, today announced it has raised $20 million in Series B financing led by Spark Capital with participation from existing investors Battery Ventures, Salesforce Ventures, Contour Venture Partners, Core Capital Partners, and IDEA Fund Partners. In addition to Seven Seven Six and Unshackled, other participants in Dispo’s seed round included Shrug Capital, Weekend Fund, members of the Vlog Squad, Latin World Entertainment’s Sofia Vergara and Luis Balaguer, The Chainsmokers, Roivant CEO Vivek Ramaswamy, Lime CEO Wayne Ting, Knowable CEO Warren Shaeffer, Brud CEO Trevor McFedries, Pizzaslime co-founders Matt Hwang and Stove, and Seatgeek‘s senior director of influencer channels Ian Borthwick.New funding based on company’s unique product experience platform and 400 percent annual revenue growth.
The New York Times also notes that in the wake of the Insider report, Dispo’s app store rating plummeted below two stars last week, and Apple briefly paused the ability to leave reviews. In addition to disturbing investors, the controversy also roiled prospective Dispo users. We have believed in Dispo’s mission since the beginning and will continue to support the hardworking team bringing it to life. We have made the decision to donate any profits from our investment in Dispo to an organization working with survivors of sexual assault. The firm similarly told TechCrunch that it would donate profits from the investment to to organizations focused on survivors of sexual assault, including Maitri. Unshackled, a female-majority team, said it supported Dispo’s decision to part ways with Dobrik, and would continue to monitor the situation.
While Seven Seven Six said it would continue to support Dispo’s hardworking team without Dobrik on board, the firm vowed to donate any profits from its investment “to an organization working with survivors of sexual assault.” In addition to Spark, Alexis Ohanian‘s Seven Seven Six venture fund and Unshackled Ventures - both of whom participated in Dispo’s $4 million seed round in October - announced that they were was distancing themselves from Dobrik. “Dispo’s team, product, and most importantly - our community - stand for building a diverse, inclusive, and empowering world.”
“David has chosen to step down from the board and leave the company to not distract from the company’s growth,” Dispo told the outlet in a statement. Hours later, Dobrik stepped down from Dispo’s board and left the company, The Information was first to report. “We have stepped down from our position on the board and we are in the process of making arrangements to ensure we do not profit from our recent investment in Dispo.”Ģ/ We have stepped down from our position on the board and we are in the process of making arrangements to ensure we do not profit from our recent investment in Dispo. “In light of recent news about the Vlog Squad and David Dobrik, the co-founder of Dispo, we have made the decision to sever all ties with the company,” Spark Capital tweeted yesterday. Subscribe for daily Tubefilter Top Stories Subscribe
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